Live Insurance News

Homeowners insurance rates in Florida may spike under new bill

April 12, 2013April 30, 2013

Property owners could find themselves paying a great deal more should SB1770 pass. If a new Senate Bill (SB 1770) is able to pass the Florida Legislature, property owners purchasing homeowners insurance coverage through Citizens could be facing steep rates. The complex bill made its way relatively smoothly through the Senate of the state. Throughout that time, lawmakers have been hearing considerable figures regarding the costs that would be faced within the state if a large hurricane should strike. These figures included $100 billion in possible damages, over $9 billion…

Homeowners insurance bill would change the rates in North Carolina

April 10, 2013April 30, 2013

Legislators from coastal communities are hoping to make the rate system different and more transparent. Lawmakers that are representing coastal North Carolina counties where residents are feeling high frustrations about the skyrocketing cost of homeowners insurance, have now introduced a number of bills that would change the way that the state regulates the rates that are charged as well as to add transparency to the system as a whole. One of the two primary measures has already been receiving bipartisan support as there are sponsors from both parties. Both Republicans…

Insurance news investigation includes accusations of kickback scheme

April 9, 2013April 8, 2013 H. Cutner

These allegations are appearing in the mortgage coverage sector and are being investigated by federal regulators. The latest insurance news has revealed that federal regulators have started a massive investigation into allegations of a mortgage coverage kickback scheme that has driven costs for homeowners skywards for nearly two decades. The first action in the investigation has been conducted around a bank and lender kickback scheme. The Consumer Financial Protection Bureau announced the first insurance news that showed that the investigation is focused specifically at a scheme where lenders and banks…

Consumer satisfaction in homeowners insurance sector continues to climb

April 8, 2013April 7, 2013 Dan

Report highlights satisfaction among homeowners insurance customers J.D. Power and Associates has released a new study concerning consumer satisfaction in the homeowners insurance market. The study, entitled “J.D. Power and Associates 2013 Property Claims Satisfaction Study,” claims that homeowners insurance customers are more satisfied with their claims when dealing with insurance agents rather than their insurance providers directly. The study also indicates that general satisfaction with the way insurers handle claims continues to rise despite two years of heavy losses due to natural disasters. Satisfaction is off to a good…

Homeowners insurance in for some turbulence in Texas

April 1, 2013March 31, 2013 Logan B.

Texas homeowners insurance continues to be faced with serious problems The Texas Windstorm Insurance Association (TWIA) has been facing significant financial troubles in recent years. Like other state-run insurance organizations, TWIA offers homeowners insurance coverage that is typically less expensive than coverage offered by private insurance companies. For smaller states that are not exposed to the same natural disasters that Texas is, these public organizations face only modest challenges. TWIA, however, has long been faced with the financial woes that are associated with homeowners insurance for coastal properties. TWIA combats…